BancorpSouth to decline bailout funds

By The Associated Press

TUPELO, Miss. — BancorpSouth Inc. has announced it will not apply for federal bailout funds.

Aubrey Patterson, chairman and CEO of BancorpSouth, said Monday in a press release that it was in the best interest of shareholders to continue with a conservative capital management plan without adding government capital.

The Tupelo-based financial institution posted 11.82 percent in total risk-based capital in the third quarter ending Sept. 30.

BancorpSouth has about $13.3 billion in assets and operates 300 commercial banking, mortgage, insurance, trust and broker/dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.